US House Republican Scalise: GOP debt ceiling plan coming tomorrow

Stephen Joseph Scalise who serves as the House Majority Leader and representative for Louisiana's 1st congressional district has stated that the Grand Old Party, (GOP) debt ceiling plan is coming tomorrow. 

Meanwhile, Speaker Kevin McCarthy on Monday previewed what he hopes House Republicans can pass in the next few weeks to raise the debt ceiling during a speech at the New York Stock Exchange.

“So here is our plan: In the coming weeks, the House will vote on the bill to lift the debt ceiling into the next year, save taxpayers trillions of dollars, make us less dependent on China, curb our inflation, all without touching social security and Medicare,” CNN Business reported him telling a crowd of traders and analysts on the sixth floor of the exchange.

US Dollar update

The US Dollar index, DXY, rose on Monday on further data that has bolstered expectations the Federal Reserve will raise interest rates in May.

The DXY index is making tracks from support and is now on the backside of the prior micro trendline. This leaves a bullish bias while above 101.50 with eyes on 102.80/50.